With the participation of seventy real estate developers and investors, the management of the Real Estate Development Fund revealed that the 12 projects it issued during the past six months will play a role in facilitating and facilitating citizens to own housing, eliminate waiting lists, and enable citizens to obtain their own housing.

The Director General of the Real Estate Development Fund Eng.

The Director General of the Real Estate Development Fund, Engineer Yousef bin Abdullah Al-Zughaibi, explained during the joint workshop hosted by the Chamber of Commerce and Industry in Jeddah recently, represented by the Urban Development Committee, that the Fund as part of its initiatives is disbursing the loan in one payment to the beneficiary, after it was disbursed in four installments.

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He revealed that the Fund has started the "Guarantor" program, whose idea is that the beneficiary of the Fund's loans can go to a developer or seller to buy the property from him, and the Fund pays the price to the developer directly and in one payment, adding that the Fund had stipulated for a citizen to obtain a loan of 500 thousand riyals that the area of the apartment should not be less than 240 m2, but now he reduced the area to 175 m2, including common area and this step facilitated the ownership of housing units in major cities

For his part, Vice President of the Jeddah Chamber Ziad bin Bassam Al-Bassam stressed that the Urban Development Committee at the Jeddah Chamber plays a major role in improving the performance of the real estate market, organizing the practice of the profession and raising the efficiency of workers and expertise in this field.